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Editorial Volume 7(3)

Author

Listed:
  • Hannah E Carter

    (University of Sydney. Locked Bag 77, Camperdown NSW 2050)

  • Deborah J Schofield

    (University of Sydney. Locked Bag 77, Camperdown NSW 2050)

  • Rupendra Shrestha

    (University of Sydney. Locked Bag 77, Camperdown NSW 2050)

Abstract

While the direct costs of mortality to the health care system are known to be significant, there is less information regarding the wider economic impacts of mortality including the implications for productivity, household incomes and government revenue. This paper outlines the development of LifeLossMOD, a new microsimulation model to estimate the economic impacts of premature mortality in Australia. The model is based on a census of 2003 mortality records and applies projections from the APPSIM microsimulation model to estimate the counterfactual lifetime trajectories forgone to the year 2030. We estimated that mortality in 2003 accounted for over 280,000 full time working years lost to the Australian economy. Future applications of LifeLossMOD will explore the distributional impacts of mortality on employment, GDP, government revenue and household income, wealth and retirement savings. These estimates will allow decision makers and others to more accurately determine the full economic impacts of mortality by cause. In addition, the model will be able to quantify the financial gains likely to accrue with preventative health care interventions, which can in turn be reported on in cost effectiveness analyses.

Suggested Citation

  • Hannah E Carter & Deborah J Schofield & Rupendra Shrestha, 2014. "Editorial Volume 7(3)," International Journal of Microsimulation, International Microsimulation Association, vol. 7(3), pages 33-52.
    • Handle: RePEc:ijm:journl:v:7:y:2014:i:3:p:33-52
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    References listed on IDEAS

    as
    1. Deborah Cobb‐Clark, 2001. "The Longitudinal Survey of Immigrants to Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 34(4), pages 467-477, December.
    2. Productivity Commission, 2005. "Economic Implications of an Ageing Australia," Research Reports, Productivity Commission, Government of Australia, number 16.
    3. Deborah Schofield & Megan Passey & Arul Earnest & Richard Percival & Simon Kelly & Rupendra Shrestha & Susan Fletcher, 2009. "Case Studies - Health&WealthMOD: a microsimulation model of the economic impacts of diseases on older workers," International Journal of Microsimulation, International Microsimulation Association, vol. 2(2), pages 58-63.
    4. Productivity Commission, 2005. "Economic Implications of an Ageing Australia," Labor and Demography 0506001, University Library of Munich, Germany.
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    6. Deborah Schofield & Rupendra Shrestha & Emily Callander & Richard Pervical & Simon Kelly & Megan Passey & Susan Fletcher, 2011. "Modelling the cost of ill health in Health&WealthMOD (Version II): lost labour force participation, income and taxation, and the impact of disease prevention," International Journal of Microsimulation, International Microsimulation Association, vol. 4(3), pages 32-36.
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    More about this item

    Keywords

    Economic; impacts; productivity; GDP; premature; mortality; illness; health; model; microsimulation;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

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